OAKWOOD MORTGAGE INVESTORS, INC. 1998-B
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: Sep-98
Scheduled Principal Balance of Contracts
- --------------------------------------------------------------------------------------------
Beginning Ending Scheduled
Principal Scheduled Prepaid Liquidated Contracts Principal Gross
Balance Principal Principal Principal Repurchased Balance Interest
- ----------------------------------------------------------------------------------------------------------
284,133,443.68 (422,863.66) (2,392,452.06) (445,811.15) 0.00 280,872,316.81 2,603,590.03
==========================================================================================================
Certificate Account
- --------------------------------------------------------------------------------------------
Beginning Deposits Investment Ending
Balance Principal Interest Distributions Interest Balance
- --------------------------------------------------------------------------------------------
2,290,456.49 3,233,279.74 2,456,775.06 (5,661,876.01) 6,136.91 2,324,772.19
============================================================================================
REPORT DATE: OCTOBER 7, 1998
POOL REPORT # 6
Page 1 of 6
Scheduled Amount
Servicing Pass Thru Liquidation Reserve Available for Limited Total
Fee Interest Proceeds Fund Draw Distribution Guarantee Distribution
- --------------------------------------------------------------------------------------------------------
236,777.87 2,366,812.16 327,057.73 0.00 5,745,963.48 0.00 5,745,963.48
========================================================================================================
P&I Advances at Distribution Date
- ---------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
- ---------------------------------------------------------
1,738,745.77 1,714,301.48 1,697,311.24 1,721,755.53
=========================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1998-B
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: Sep-98
Class B Crossover Test Test Met?
- ------------------------------------------ ----------
(a) Remittance date on or after December 2002 N
(b) Average 60 day Delinquency rate <= 5% Y
(c) Average 30 day Delinquency rate <= 7% Y
(d) Cumulative losses do not exceed the following
percent of the intitial principal balance of all Certificates
Dec 2002-May 2004 7% N
June 2004-May 2005 8% N
June 2005 and thereafter 9% N
(e) Current realized loss ratio <= 2.75% Y
(f) Does Subordinated Certificate percentage equal or
exceed 28.875%
of Pool Scheduled Principal Balance
Beginning M balance 36,000,000.00
Beginning B-1 balance 11,250,000.00
Beginning B-2 balance 15,000,000.00
----------------
62,250,000.00
----------------
Divided by beginning pool
balance 284,133,443.68
21.909% N
REPORT DATE: OCTOBER 7, 1998
POOL REPORT #6
Page 2 of 6
Average 60 day delinquency ratio:
Over 60s Pool Balance %
---------------------------------------
Current Mo 6,987,241.25 280,872,316.81 2.49%
1st Preceding Mo 5,103,359.78 284,133,443.68 1.80%
2nd Preceding Mo 3,313,032.71 287,155,127.23 1.15%
Divided by 3
---------
1.81%
=========
Average 30 day delinquency ratio:
Over 30s Pool Balance %
---------------------------------------
Current Mo 15,172,029.33 280,872,316.81 5.40%
1st Preceding Mo 13,354,810.28 284,133,443.68 4.70%
2nd Preceding Mo 8,681,505.05 287,155,127.23 3.02%
Divided by 3
---------
4.38%
=========
Cumulative loss ratio:
Cumulative losses 197,135.19
---------------
Divided by Initial Certificate
Principal 300,000,000.00 0.066%
=========
Current realized loss ratio:
Liquidation Pool
Losses Balance
------------------------------
Current Mo 118,753.42 280,872,316.81
1st Preceding Mo 78,381.77 284,133,443.68
2nd Preceding Mo 0.00 287,155,127.23
0.278%
=========
OAKWOOD MORTGAGE INVESTORS, INC. 1998-B
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: Sep-98
Delinquency Analysis
31 to 59 days 60 to 89 days 90 days and Over Total Delinq.
No. of Principal Principal Principal Principal Principal
Loans Balance # Balance # Balance # Balance # Balance
-----------------------------------------------------------------------------------------------------
Excluding Repos 7,708 277,720,806.66 251 7,889,992.50 79 2,475,250.73 55 1,693,274.45 385 12,058,517.68
Repos 106 3,151,510.15 8 294,795.58 32 940,169.38 65 1,878,546.69 105 3,113,511.65
-----------------------------------------------------------------------------------------------------
Total 7,814 280,872,316.81 259 8,184,788.08 111 3,415,420.11 120 3,571,821.14 490 15,172,029.33
=====================================================================================================
6.3% 5.40%
========================
REPORT DATE: OCTOBER 7, 1998
POOL REPORT # 6
Page 3 of 6
Repossession Analysis
Active Repos Reversal Current Month
Outstanding (Redemption) Repos Cumulative Repos
Principal Principal Principal Principal
# Balance # Balance # Balance # Balance
- ----------------------------------------------------------------------------
106 3,151,510.15 0 0.00 59 1,744,839.86 135 3,903,236.03
OAKWOOD MORTGAGE INVESTORS, INC. 1998-B
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: Sep-98
REPOSSESSION LIQUIDATION REPORT
Liquidated
Account Customer Principal Sales Insur. Total
FHA? Number Name Balance Proceeds Refunds Proceeds
- ----------------------------------------------------------------------------------
147442-8 K. GASAWAY 28,850.40 29,000.00 813.61 29,813.61
147669-6 C. TANT 34,284.62 33,500.00 2,459.73 35,959.73
147803-1 R. REED 42,225.17 42,650.00 1,951.58 44,601.58
148147-2 K. FRASER 18,757.57 18,400.00 1,853.50 20,253.50
148154-8 A. FAILLA 23,977.78 23,495.00 912.15 24,407.15
148286-8 R. HAND 22,473.78 25,595.00 1,416.34 27,011.34
148898-0 A. SPENCER 31,893.54 30,500.00 2,689.37 33,189.37
148992-1 T. SMITH 25,838.37 23,000.00 1,478.32 24,478.32
149220-6 R. WRIGHT 34,329.18 31,900.00 1,336.23 33,236.23
149261-0 R. ROLLINS 23,335.39 23,400.00 213.96 23,613.96
149401-2 T. KNOX 12,767.19 14,000.00 712.84 14,712.84
150289-7 R. WEEKS, JR 11,590.74 12,000.00 1,494.15 13,494.15
1503234 R. CORNELSON 22,947.44 22,445.00 0.00 22,445.00
151213-6 K. VAIL 15,368.43 2,500.00 0.00 2,500.00
152103-8 R. PELKEY 19,983.42 19,925.00 1,529.40 21,454.40
152371-1 C. BURRELL 30,354.05 27,500.00 1,653.98 29,153.98
152634-2 P. HICKMAN 35,839.46 34,400.00 1,466.33 35,866.33
156929-2 M. HUNTER 10,994.62 11,025.00 428.21 11,453.21
0.00
0.00
----------------------------------------------
445,811.15 425,235.00 22,409.70 447,644.70
==============================================
REPORT DATE: OCTOBER 7, 1998
POOL REPORT 6
Page 4 of 6
Net Net Current
Repossession Liquidation Unrecov. FHA Insurance Pass Thru Period Net Cumulative
Expenses Proceeds Advances Coverage Proceeds Gain/(Loss) Gain/(Loss)
- -------------------------------------------------------------------------------------------
4,910.00 24,903.61 1,839.05 0.00 23,064.56 (5,785.84)
4,910.00 31,049.73 2,125.05 0.00 28,924.68 (5,359.94)
8,720.00 35,881.58 2,514.01 0.00 33,367.57 (8,857.60)
4,910.00 15,343.50 1,491.49 0.00 13,852.01 (4,905.56)
4,910.00 19,497.15 1,528.43 0.00 17,968.72 (6,009.06)
4,910.00 22,101.34 1,461.51 0.00 20,639.83 (1,833.95)
4,910.00 28,279.37 1,976.85 0.00 26,302.52 (5,591.02)
4,910.00 19,568.32 1,580.25 0.00 17,988.07 (7,850.30)
8,720.00 24,516.23 1,895.72 0.00 22,620.51 (11,708.67)
4,910.00 18,703.96 1,517.51 0.00 17,186.45 (6,148.94)
4,910.00 9,802.84 1,130.54 0.00 8,672.30 (4,094.89)
4,910.00 8,584.15 1,102.03 0.00 7,482.12 (4,108.62)
4,910.00 17,535.00 1,441.72 0.00 16,093.28 (6,854.16)
500.00 2,000.00 1,450.49 0.00 549.51 (14,818.92)
4,910.00 16,544.40 1,052.51 0.00 15,491.89 (4,491.53)
4,910.00 24,243.98 1,931.96 0.00 22,312.02 (8,042.03)
4,910.00 30,956.33 2,226.93 0.00 28,729.40 (7,110.06)
4,910.00 6,543.21 730.92 0.00 5,812.29 (5,182.33)
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
- ----------- -------------------------------------------------------------
91,590.00 356,054.70 28,996.97 0.00 327,057.73 (118,753.42) (197,135.19)
=========== ===========================================================================
PRIOR MONTH CUMULATIVE 0.00
OAKWOOD MORTGAGE INVESTORS, INC. 1998-B
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: Sep-98
CERTIFICATE PRINCIPAL ANALYSIS
PRINCIPAL
Original Beginning Beginning Current Current
Cert. Certificate Certificate Carryover Principal Principal
Class Balances Balances Principal Due Paid
- -----------------------------------------------------------------------------------------------------------
A-1 62,900,000.00 47,033,443.68 0.00 3,261,126.87 3,261,126.87
A-1 Outstanding Writedown 0.00 0.00 0.00
A-2 57,600,000.00 57,600,000.00 0.00 0.00 0.00
A-2 Outstanding Writedown 0.00 0.00 0.00
A-3 33,700,000.00 33,700,000.00 0.00 0.00 0.00
A-3 Outstanding Writedown 0.00 0.00 0.00
A-4 18,700,000.00 18,700,000.00 0.00 0.00 0.00
A-4 Outstanding Writedown 0.00 0.00 0.00
A-5 64,850,000.00 64,850,000.00 0.00 0.00 0.00
A-5 Outstanding Writedown 0.00 0.00 0.00
M-1 23,250,000.00 23,250,000.00 0.00 0.00 0.00
M-1 Outstanding Writedown 0.00 0.00 0.00
M-2 12,750,000.00 12,750,000.00 0.00 0.00 0.00
M-2 Outstanding Writedown 0.00 0.00 0.00
B-1 11,250,000.00 11,250,000.00 0.00 0.00 0.00
B-1 Outstanding Writedown 0.00 0.00 0.00
B-2 15,000,000.00 15,000,000.00 0.00 0.00 0.00
B-2 Outstanding Writedown 0.00 0.00 0.00
--------------------------------------------------------------------------------
300,000,000.00 284,133,443.68 0.00 3,261,126.87 3,261,126.87
================================================================================
REPORT DATE: OCTOBER 7, 1998
POOL REPORT # 6
Page 5 of 6
Ending Prefunding Ending Principal Paid
Carryover Shortfall Writedown Certificate Pool Per $1,000
Principal Distribution Amounts Balances Factor Denomination
- -----------------------------------------------------------------------------------------
0.00 0.00 0.00 43,772,316.81 69.59033% 51.85
0.00 0.00 0.00 0.00
0.00 0.00 0.00 57,600,000.00 100.00000% 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 33,700,000.00 100.00000% 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 18,700,000.00 100.00000% 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 64,850,000.00 100.00000% 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 23,250,000.00 100.00000% 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 12,750,000.00 100.00000% 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 11,250,000.00 100.00000% 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 15,000,000.00 100.00000% 0.00
0.00 0.00 0.00 0.00
- -------------------------------------------------------
0.00 0.00 0.00 280,872,316.81
=======================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1998-B
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: Sep-98
CERTIFICATE INTEREST ANALYSIS
Certificate Remittance Beginning Current Total Interest
Class Rate Balance Accrual Paid Shortfall
----------------------------------------------------------------
A-1 5.62984% 0.00 220,658.97 220,658.97 0.00
A-1 Carryover Interest 0.00 0.00 0.00 0.00 0.00
A-1 Writedown Interest 0.00 0.00 0.00 0.00 0.00
A-2 6.15000% 0.00 295,200.00 295,200.00 0.00
A-2 Carryover Interest 0.00 0.00 0.00 0.00 0.00
A-2 Writedown Interest 0.00 0.00 0.00 0.00 0.00
A-3 6.20000% 0.00 174,116.67 174,116.67 0.00
A-3 Carryover Interest 0.00 0.00 0.00 0.00 0.00
A-3 Writedown Interest 0.00 0.00 0.00 0.00 0.00
A-4 6.35000% 0.00 98,954.17 98,954.17 0.00
A-4 Carryover Interest 0.00 0.00 0.00 0.00 0.00
A-4 Writedown Interest 0.00 0.00 0.00 0.00 0.00
A-5 6.67500% 0.00 360,728.13 360,728.13 0.00
A-5 Carryover Interest 0.00 0.00 0.00 0.00 0.00
A-5 Writedown Interest 0.00 0.00 0.00 0.00 0.00
M-1 6.80000% 0.00 131,750.00 131,750.00 0.00
M-1 Carryover Interest 0.00 0.00 0.00 0.00 0.00
M-1 Writedown Interest 0.00 0.00 0.00 0.00 0.00
M-2 7.02500% 0.00 74,640.63 74,640.63 0.00
M-2 Carryover Interest 0.00 0.00 0.00 0.00 0.00
M-2 Writedown Interest 0.00 0.00 0.00 0.00 0.00
B-1 7.45000% 0.00 69,843.75 69,843.75 0.00
B-1 Carryover Interest 0.00 0.00 0.00 0.00 0.00
B-1 Writedown Interest 0.00 0.00 0.00 0.00 0.00
B-2 7.75000% 0.00 96,875.00 96,875.00 0.00
B-2 Carryover Interest 0.00 0.00 0.00 0.00 0.00
B-2 Writedown Interest 0.00 0.00 0.00 0.00 0.00
X 78,381.77 844,044.84 725,291.42 118,753.42
R 0.00 0.00 0.00 0.00
Service Fee 0.00 236,777.87 236,777.87 0.00
------------------------------------------------------
78,381.77 2,603,590.03 2,484,836.61 118,753.42
======================================================
REPORT DATE: OCTOBER 7, 1998
POOL REPORT # 6
Page 6 of 6
Interest Paid
Ending Per $1,000 Cert. TOTAL
Balance Denomination Class DISTRIBUTION
- -----------------------------------------------------------------
0.00 4.69 A-1 3,481,785.84
0.00 0.00
0.00 0.00
0.00 5.13 A-2 295,200.00
0.00 0.00
0.00 0.00
0.00 5.17 A-3 174,116.67
0.00 0.00
0.00 0.00
0.00 5.29 A-4 98,954.17
0.00 0.00
0.00 0.00
0.00 5.56 A-5 360,728.13
0.00 0.00
0.00 0.00
0.00 5.67 M-1 131,750.00
0.00 0.00
0.00 0.00
0.00 5.85 M-2 74,640.63
0.00 0.00
0.00 0.00
0.00 6.21 B-1 69,843.75
0.00 0.00
0.00 0.00
0.00 6.46 B-2 96,875.00
0.00 0.00
0.00 0.00
197,135.19 X 725,291.42
0.00 R 0.00
0.00 236,777.87
- ----------- --------------
197,135.19 5,745,963.48
===========
0.00
--------------
5,745,963.48
==============